Tunghsu Optoelectronic(SZ:000413) 券商中国·2025-06-13 06:42Core Viewpoint - The article discusses the severe penalties imposed on Dongxu Optoelectronics for fraudulent stock issuance, highlighting the regulatory actions taken by the Hebei Securities Regulatory Bureau and the implications of the new securities law on such violations [2][3][4]. Summary by Sections Penalty Details - Dongxu Optoelectronics was fined 378 million yuan, which is 5% of the total fundraising amount of 7.565 billion yuan, representing the maximum penalty under the old securities law [3][12][13]. - The penalties also extend to the actual controller of Dongxu Optoelectronics, Li Mouting, and the controlling shareholder, Dongxu Group, who were similarly fined 378 million yuan each for their roles in the fraudulent activities [10][12]. Regulatory Background - The Hebei Securities Regulatory Bureau conducted an investigation into Dongxu Optoelectronics for fraudulent stock issuance, which involved misrepresentations in their financial reports from 2015 to 2016 [4][7]. - The fraudulent activities included fabricating business operations and misleading disclosures, which led to significant inaccuracies in the company's annual reports from 2015 to 2022 [7][8]. Legal Framework - The penalties were based on the provisions of the 2005 Securities Law, which stipulates fines for fraudulent issuance of securities, with the maximum penalty being 5% of the illegally raised funds [11][14]. - The revised 2019 Securities Law has increased the penalties for fraudulent issuance, allowing for fines of up to 10% to 100% of the illegally raised funds, significantly enhancing the regulatory framework for such violations [15].